Cardio Diagnostics (NASDAQ:CDIO) Trading Down 0.5% – Should You Sell?

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) shares fell 0.5% on Monday . The company traded as low as $1.9518 and last traded at $1.97. Approximately 21,328 shares changed hands during trading, a decline of 62% from the average session volume of 55,992 shares. The stock had previously closed at $1.98.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CDIO shares. Wall Street Zen upgraded Cardio Diagnostics to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cardio Diagnostics in a research report on Thursday, June 11th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Cardio Diagnostics Stock Down 7.7%

The company has a market cap of $6.01 million, a P/E ratio of -0.60 and a beta of 2.24. The firm’s 50-day moving average price is $1.86 and its 200-day moving average price is $2.40.

Cardio Diagnostics (NASDAQ:CDIO) last posted its earnings results on Friday, May 15th. The company reported ($0.63) earnings per share for the quarter. Cardio Diagnostics had a negative net margin of 36,950.00% and a negative return on equity of 78.82%.

Institutional Investors Weigh In On Cardio Diagnostics

A number of institutional investors have recently made changes to their positions in the business. DRW Securities LLC grew its holdings in shares of Cardio Diagnostics by 122.8% in the fourth quarter. DRW Securities LLC now owns 40,463 shares of the company’s stock worth $110,000 after purchasing an additional 22,298 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Cardio Diagnostics in the third quarter worth $79,000. Finally, Renaissance Technologies LLC bought a new stake in Cardio Diagnostics during the 1st quarter valued at $30,000. Hedge funds and other institutional investors own 8.06% of the company’s stock.

Cardio Diagnostics Company Profile

Cardio Diagnostics Holdings, Inc develops and commercializes epigenetics-based clinical tests for cardiovascular disease. It offers Epi+Gen CHD, a three-year symptomatic coronary heart disease (CHD) risk assessment test targeting CHD events, including heart attacks; and PrecisionCHD, an integrated epigenetic-genetic blood test for the early detection of coronary heart disease. Cardio Diagnostics Holdings, Inc was founded in 2017 and is headquartered in Chicago, Illinois.